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Dec 5, 2011 | 03:40

Inside the News: EU leaders kick off week of crisis talks

Dec. 5 - French President Nicolas Sarkozy and German Chancellor Angela Merkel meet on Monday under pressure to align their positions on centralising control of euro zone budgets to stem the debt crisis.

TRANSCRIPT +

Potentially the most important week in the it was fifteen year custody kicks off today with a meeting in congress. Between French president Nicholas Sarkozy and German chancellor I'm gonna go. Financial markets optimistic that policy makers on not moving towards a definitive solution to detect crisis Sarkozy and -- expected to -- a common position on types of fiscal integration. Which would require changes to the Lisbon Treaty. This vote paved the way explode even close of fiscal union and hopefully more aggressive bond buying from the European Central Bank. The sticking point is likely to be whether strict new budget bills should be enforced by national governments -- central European authority. -- will then take their proposals to Brussels at the end of the week for approval by leaders of all 27 EU member states. Well Asian equities -- higher on hopes of euros on -- I'm from all in the market action on other big stories in Asia. Let's go over to Reuters Jonathan Gordon and Hong Kong Jonathan. Agent against him that well -- as you mentioned a decent start from markets of this this Monday morning. In the early bounce on positive expectations for the EU summit later this week. The Nikkei two to five putting -- six tenths of percent. Say from the Hang Seng bullish on high exchange are not getting the same memo -- -- down one point 2% growth of the day. -- of that can be found on today's China services PMI figure HSBC private reading showing a deceleration. Of growth. All the government figure out over the weekend showed a full on contraction. Both more hands of any real slowdown in China's economy. That a big story in Asia today is Olympus once again Jamie what are sources telling us two things about the investigative panel that is currently looking into the matter. First they're likely to rule out any gangster or you choose a links to the affair. And second the panel is likely to put a dollar figure on the losses we can report is staggering one point seven billion US dollars that's -- from -- Jamie back to you. Johnson go to and Hong Kong thank you very much. What a total new story and -- is this morning. Russian boasts a -- deliver a heavy repute to Vladimir Putin's ruling party indications from Sunday's election shall -- United Russia Party getting just under half of the votes cast. Passed on from more than 64%. A young goal but analysts say could -- means almost sucked -- to when the presidents the presidential election scheduled for march. The Russian election results of the top story on -- to this morning suit. Other stories trending include the brisk for some some shares after Apple's bits of hope US sales of his galaxy products was rejected. And the bank of China is to step and as pop on a -- according to a source familiar with deal. But this comes up poppies as a snapshot of the best finance news and commentary on the web CPC's catching up I today. The Washington Post -- through Black Friday retail numbers and says beware of the -- Pro public cuts are all books why presidential -- things. Overwhelmingly fabled white criminals and says has facial as the a four times more likely to get a reprieve and ethnic minority of wrongdoers. And this could be a modest yet for bonuses on Wall Street pass according to the New York Times Spielberg which says that stock awards could make up for the slim Pietrus. Mobile -- -- up quick look at where the European stock markets have opened today. And if they see unify us 300. Zero point 7% at 992. Points. Well that's it and I'll I'll leave you with our pick of the day which state comes from Reuters photographer Khaled Abdullah. Hunch was antigovernment protestors in the Yemeni capital Osama. Following a demonstration to demand the trial of President Ali Abdullah Saleh. I'm Jamie give up best there's Reuters room.

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